A Guide to Buying an Apartment in Madrid, Spain

Madrid is the most important city in Spain. Not only is it the Spanish capital, it is also the financial nerve centre of the nation. It is here that the rich and famous of Spain call home. But how is Madrid like for everyone else? Should you buy an apartment in Madrid, Spain online in 2017? Let’s find out.

Madrid has a rich history that began over 1000 years ago when the King of Spain, Muhammed of Cordoba, built his palace here. Madrid was the most important outpost of Castile, and went on to become the most important city in Spain in the Renaissance Era.

Madrid became the power centre of Spain, which the ruling aristocrats called home. The city was at the height of its power under the reign of the authoritarian Spanish leader, Francisco Franco, who rose to prominence following the end of the Spanish Civil War in 1939.

Today, Madrid is associated with Real Madrid, the richest football club in the world. Cristiano Ronaldo and Gareth Bale, two of the world’s best footballers, ply their trade in Madrid.

Madrid is a thriving city that belongs to the same club that other world class cities that London, Paris and New York belong to. You can be sure that the apartments in Madrid are not cheap, in fact, they are pretty expensive.

An average apartment for sale in Madrid, Spaincosts 1,100 Euros per square metre. While this is certainly cheaper than what you would get in London, for a vast majority of Spaniards, buying a home in Madrid is next to impossible.

That’s why most of the property transactions in Madrid involve a wealthy overseas investor. There’s a lot of demand for apartments in the Spanish capital from cash rich, high net worth individuals from Russia, China, Brazil, Mexico and other emerging nations.

Madrid is different from the other places in Spain. It has no beaches and it can get really cold here during the winter. It even snows in Madrid on occasions.

Madrid is directly compared to Barcelona. Both Madrid and Barcelona have their own admirers and there is a lot of debate on which of the two cities offers a better quality of life. Madrid has many great advantages.

Madrid has world class health care facilities. Some of Madrid’s biggest hospitals, such as the La Paz University Hospital, Unidad Medica Angloamericana and Hospital Quiron are considered to be amongst the best in the world.

Madrid has one of the busiest international airports in the world in Madrid-Barajas International Airport (MAD). The schools here are up to world class standards. But the cost of education in Madrid is much higher than elsewhere in Spain – the annual fees at some of the international schools here can be as high as 25,000 Euros.

Madrid has a rich art scene and a proud culture. It has many great historic buildings and lots of world class architecture. There are many museums, operas, symphonies and art centres in Madrid.